04/06/23 - Philip's Carbon Market News
A Taylor Swift moment for carbon markets - POLITICO There’s a broad recognition that the standards need to eventually hurt someone in order to help the rest of the market thrive — kind of like the Hunger Games. Some types of projects will need to be the anti-hero and get ostracized in order for the Integrity Council to live up to its name.
“It’s not that we have some power to lock anyone out of the market,” said William McDonnell, the ICVCM’s chief operating officer. “But because there’s been a lot of market support for our work, I would expect that the market forces will then gravitate finance towards the high-quality activities that do meet our principles.”
Market participants are eager to put reputational issues behind them and see daylight. They know all too well that not all types of projects are created equal.